Shares of Tech Data Corp (NASDAQ:TECD) have been assigned an average rating of “Buy” from the twelve ratings firms that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $110.29.
TECD has been the topic of several recent analyst reports. Bank of America dropped their target price on shares of Tech Data from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, March 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $110.00 price target (down previously from $120.00) on shares of Tech Data in a report on Friday, March 9th. Pivotal Research set a $105.00 price target on shares of Tech Data and gave the stock a “buy” rating in a report on Thursday, March 8th. BidaskClub raised shares of Tech Data from a “hold” rating to a “buy” rating in a report on Saturday, March 3rd. Finally, Northcoast Research set a $127.00 price target on shares of Tech Data and gave the stock a “buy” rating in a report on Wednesday, February 28th.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Tech Data by 1.6% in the 4th quarter. BlackRock Inc. now owns 3,746,695 shares of the company’s stock worth $367,063,000 after purchasing an additional 59,230 shares during the period. Vident Investment Advisory LLC raised its holdings in shares of Tech Data by 6.5% in the 4th quarter. Vident Investment Advisory LLC now owns 25,857 shares of the company’s stock worth $2,533,000 after purchasing an additional 1,573 shares during the period. Teacher Retirement System of Texas grew its stake in Tech Data by 319.1% in the 4th quarter. Teacher Retirement System of Texas now owns 13,268 shares of the company’s stock valued at $1,300,000 after buying an additional 10,102 shares in the last quarter. Copper Rock Capital Partners LLC grew its stake in Tech Data by 3.6% in the 4th quarter. Copper Rock Capital Partners LLC now owns 235,314 shares of the company’s stock valued at $23,113,000 after buying an additional 8,146 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in Tech Data by 0.5% in the 4th quarter. Macquarie Group Ltd. now owns 657,627 shares of the company’s stock valued at $64,428,000 after buying an additional 3,119 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors.
Tech Data (NASDAQ:TECD) last posted its earnings results on Thursday, March 8th. The company reported $3.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.53 by ($0.03). Tech Data had a return on equity of 12.83% and a net margin of 0.32%. The firm had revenue of $11.09 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same period in the prior year, the business earned $2.45 EPS. Tech Data’s quarterly revenue was up 49.3% compared to the same quarter last year. sell-side analysts expect that Tech Data will post 10.65 earnings per share for the current fiscal year.
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About Tech Data
Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.
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